Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-05-07
A GOOD WORD At LAST
SPOKEN FOR THE FOURTH SECTION OF THE
INTERSTATE LAW.
Business Improving on Account Of II at Several
Western POints-The Improvement Does
Not Extend TO the East-General
Summary Of Trade.

New YORK, May 6.-R. G.. Dun & Co. s
weekly trade review says: THE feature
of business reports for the past week is
one enormous increase reported at many
western points. In that section the Inter
State act, though checking trade at some
points, seems to have produced feeling
of extraordinary confidence in much
larger number of towns Other causes,
particularly speculation in real estate and
activity in building, contribute to swell
transactions surprisingly. At Cincinnati
clearings show an increase of 81 per cent
over last year; at st. Louis l6 per cent
and at Chicago II, but st. Paul and San
Francisco report gains of 43 per cent,
Memphis, st. Joseph and Peoria exceeding
30 per cent, indianapolis and Denver
nearly 80 per cent, Omaha 1O2 per cent
and Wichita ll0 per cent. Apart from
land trading and new building, other bus
mess has been remarkably active through
out that region. Denver notes an in
crease in yield of precious metals, st. Paul
a large outplt OF flour, Cleveland
Cincinnati and Milwaukee dis
tinct improvement in trade
and collections, and the supply of
money seems everywhere ample At
Memphis the activity noted is mainly in
real estate and building. Eastern cities
do not find a corresponding improvement
in trade. At Philadelphia exchanges
show little increase. Large amounts of
capital are going thence to the West on
mortgage loans. The boot and shoe busi-
ness still improves, hut wooden manufIc-
ture is depressed by slow demand for
goods and several New England mills
have stopped or reduced time. The
high prices being paid for new wool
at the west, it is claimed will make profit
able manufacture impossible for many
The dry goods market is quiet, though
prices are well maintained. In the grocery
trade there is much complaint of dullness,
and sugar has yielded shade. In spite of
active speculation in coffee, the demand
for consumption is limited Railroad earn
ings give proof that, while traffic is large
the increase falls far short OF reported
gains in the volume Of business al the
west. Reports of railroads for April 50
far show an increase of II per cent in gross
over. last year. Wheat reporting is check
ed by corner in near options, which has
advanced in price ,! cents. Cotton futures
for June are also cOrnercd and have ad-
vancrd quarter. Bessemer iron is 10 to
IS cents lower at Pittsburg; sales of bar at
90 are not unusual at Philadelphia and
there are reports of large sales of pig at IA
concession, while some rail mills are open
for orders at SIS. Already 967
miles of railroad have been completed
against 652 to date last year, and new
securities are offered in great variety and
large amount, but the uncertain prospect
rs Ia rates and respecting the decisions of
the Interstate Commission, affects invest
ments in stocks, though prices have i'm
proved a little. The enormous supply Ol
money goes far to explain the situation.
Not only has the treasury added about
1927, 900 tO the circulation in
April, but the abundance and
cheapness of money in London are clearly
felt here. Undoubtedly large amounts Of
foreign capital are seeking employment
here, in industries or real estate loans, be-
cause of the inadequate demand abroad
While this state of things continues and
crop prospects grow more favorable, the
season of speculation and expansion in
trade and industry is not likely TO meet a
reaction.